Overview 

The Credit Request Workflow allows users to efficiently manage and reconcile vendor overbilling by facilitating the detection, documentation, and resolution of discrepancies in vendor invoices, like price variances and quantity shortages. Organizations often encounter discrepancies between invoice amounts and received goods, which can lead to potential financial inaccuracies and vendor disputes. Ottimate’s integrated Credit Request Workflow simplifies and centralizes this process, significantly reducing manual efforts, enhancing financial accuracy, and improving vendor accountability.

How Does It Work?

1. Variance Detection: Ottimate identifies cost discrepancies as part of the Item Validation flow and flags invoice line items with price mismatches.

2. Credit Request Initiation: A "Credit Request" button appears when a discrepancy is detected, allowing users to quickly initiate a request. If users wish to request a credit without a variance, they can do so via the More button.

3. Item Selection: Users select relevant line items from a pre-populated list that displays identified cost variances. Users may also add other invoice items to the quantity or cost table as needed.

4. Prepopulated Credit Templates: Credit request emails are automatically filled with necessary details, including variance amounts and relevant vendor contacts, for quick review and submission.

5. Vendor Communication: Users directly send credit requests to vendors from within Ottimate, streamlining communication and improving response time.

6. Tracking and Reporting: Credit requests are logged in the invoice “History” tab and tracked via reporting in our reports module.

Workflow Breakdown:

Trigger a Credit Request

When Ottimate detects a pricing or quantity discrepancy on an invoice, a “Request Credit” button will automatically appear on the invoice page. 

If you need to request a credit without variances discovered through Item Validation, you can do so by clicking on the More Button.

Select Items for Credit

Review the invoice line items that have been automatically flagged for variance. 

If additional items need to be included, click “Add Item” to search the full list of invoice lines. Quantities and pricing can be adjusted directly within the interface before proceeding.

If you want to request a credit for delivery shortage, add “Items with Quantity Variance” manually by adding items and adjusting the received quantity field.

Generate the Credit Request Email

You will be presented with a pre-filled credit request email. This template is automatically populated with key information such as the invoice number, item-level discrepancies, and the vendor’s contact details. Review and edit the email content, customize the message if needed, and adjust the list of recipients, including CC’ing other relevant stakeholders.

Submit the Credit Request

Once the email is ready, the credit request can be submitted directly through Ottimate’s integrated email or messaging system. This ensures all communication is centralized and tracked within the platform.

Track Request Status

After submission, you can monitor the status of the credit request through Ottimate’s tracking dashboard. Each request includes a full communication log, showing updates, vendor responses, and timestamps. Summary reports are also available to evaluate the resolution status, track turnaround time, and follow up on outstanding issues.

Additional Information:

For additional information on Item Validation, click here.  

For further assistance, contact Ottimate Support by emailing Support@ottimate.com or clicking here.